Long-term growth is expected to stay strong with a CAGR of 20% from 2016 to 2025 driven mainly by Europe and China.
Annual growth in the global offshore wind market contracted in 2016 after a record 3.4 GW of new growth in 2015, with capacity additions of 1.8 GW expected for 2016. Long-term growth is expected to stay strong with a CAGR of 20% from 2016 to 2025 driven mainly by Europe and China.
Key points:
- The Chinese market will account for around 30% of the global cumulative capacity by 2025
- By 2020 the average European turbine rating will increase by more than 100% compared to the average in 2015
- Uncertainty in the U.S. market impacts growth projections negatively
MAKE’s Global Offshore Wind Power 2016, 90-page report contains 137 charts, tables and graphs providing in-depth analysis of the global offshore wind power market. Key topics covered include global, regional, and country-specific market assessments, supply-demand dynamics, balance of plant and installation methods, asset ownership strategies, and project finance and LCOE analysis combining insight on the industry’s latest trends to analyse implications for the global offshore wind power market.
Filed Under: Offshore wind
